Tom Lee, co-founder of Fundstrat Global Advisors, expressed on Monday that Bitcoin (BTC) has yet to reach its peak and could potentially hit a new record high as early as this month. He reinforced his optimistic outlook on both cryptocurrency and stock markets during an interview on CNBC’s Squawk Box.
“I don't believe Bitcoin has topped out yet,” Lee stated. “While we were perhaps too hopeful about reaching the highest levels before December, I remain confident that Bitcoin can achieve a fresh all-time high by the end of January 2026. Therefore, it would be premature to assume that prices for Bitcoin, Ethereum, or other digital currencies have already peaked.”
This prediction follows a recent decline in digital assets toward the end of 2025 and positions January as a possible breakout period—marking an intensification in Lee’s longstanding bullish stance on crypto. Back in August, he forecasted Bitcoin surpassing $200,000 before last year concluded. Ultimately, Bitcoin reached an all-time peak near $123,233 in October and was trading around $88,500 at the close of 2025 according to Coingecko data.
Looking ahead to 2026, Lee anticipates significant volatility but believes it will be constructive for cryptocurrency markets overall. He cautioned about short-term fluctuations caused by institutional portfolio adjustments prior to stronger gains later in the year.
“The year 2026 will likely unfold in two distinct phases: The first half may prove challenging due to institutional rebalancing and what I call a 'strategic reset' within crypto markets—but this turbulence lays the groundwork for a substantial rally expected during the latter half of the year,” he explained.
Lee emphasized that this reset should not be interpreted as fundamental weakness but rather as a necessary period of consolidation following several years marked by extraordinary returns across risk assets.
He showed particular enthusiasm for Ethereum (ETH), suggesting it is entering an extended growth cycle reminiscent of Bitcoin’s surge from 2017 through 2021. Last year he predicted ETH would reach $15,000 by December—a figure far above its highest price point of approximately $4,830 during 2025 and its roughly $3,300 value at December’s end. During Monday’s discussion he reaffirmed his positive outlook on ETH while revealing that his crypto mining company Bitmine Immersion Technologies has increased its holdings to over 4 million ether tokens.
“We firmly believe Ethereum is significantly undervalued right now,” said Lee. “Our view is that ETH is embarking upon a supercycle similar to what we witnessed with Bitcoin between 2017 and 2021.”
He framed investing in ETH less as speculation and more as an essential balance sheet strategy: “Acquiring assets capable of appreciating tenfold or more represents a strategic imperative for any modern treasury management approach,” he noted.
Apart from cryptocurrencies alone, Lee also presented one of Wall Street’s most ambitious equity market forecasts—predicting that the S&P 500 index could climb up to approximately 7, 700 points by late-2026 driven largely by robust corporate earnings performance.
“if you examine America’s economic fundamentals alongside productivity improvements fueled by artificial intelligence technologies,” said Lee,“the trajectory points toward an S&p level near seven thousand seven hundred at year-end next year.” This optimism rests upon earnings per share projections far sturdier than many bearish analysts currently acknowledge.”
Despite acknowledging potential pullbacks along this journey, Lee encourages viewing them not as threats but opportunities.
“There are numerous reasons to stay optimistic throughout all
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